Don't Forget Closing Costs

Everyday we answer questions about closing costs. Call us: 916-821-7884.

There are certain standard costs associated with closing the sale of a house. Buyers usually pay these costs, as specified in the real estate sales contract, however, depending on the contract the seller will have to cover some of the closing costs. "Closing Costs" are the fees which cover various services involved when you sell or buy a house. These fees might be paid out of pocket or indirectly by crediting the loan.

As indicated below, many of the costs result from getting your mortgage. Since Lonny Andrews has extensive experience with mortgages and closings, we can help you understand your closing costs.

The Loan Estimate

Within three days after you submit your application, we'll provide you with a Loan Estimate. The Loan Estimate provides you with information like estimated interest rates, payments and fees, closing costs and more. This estimate is not an approval, but it's the first step toward securing your loan.

We field questions about these costs every day at Lonny Andrews, so please be sure to contact us if you have questions.

We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, soon after you have completed your application. At Lonny Andrews, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Appraisal Costs
  • Pulling Your Credit Report
  • Interest Payment
  • Escrow Account
  • Costs associated with "originating" your loan
  • Points — These are costs you pay up-front to lower your interest rate (optional)
Property Taxes
  • Transfer Taxes and Recording Fees
  • Insurance
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Earthquake Insurance if applicable
Are you looking for a new mortgage? We can help! Give us a call today at 916-821-7884. Ready to get started? Apply Now.

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